Narrowband
internet of things (NB IoT) is an emerging IoT technology
which is being developed to meet challenges of future cellular IoT.
This technology will meet the requirement of connecting low-power
devices which relies on batteries and send small-scale information.
Furthermore, this new technology would enhance indoor coverage,
lowering delay sensitivity among interconnected devices, decrease
device cost, enable multiple devices connectivity, optimize network
architecture and consumes low power. This technology is expected to
use resource blocks of the normal LTE carrier or unused resource
blocks of guard bands of the LTE carrier. The developing ecosystem of
IoT is the key trends influencing the growth of NB-IoT market. Along
with this, expanding network of connected devices throughout is globe
is paving the growth of NB-IoT market. Presently, NB-IoT deployment
is characterized on three scenarios viz. standalone, guard band and
In Band, of which standalone and guard band deployment of NB-IoT
offers optimum performance and superior indoor coverage.
The elevating growth
of NB-IoT technology possess strong revenue potential in near future.
The revenue generation is expected to be largely from those end-use
verticals which have started adoption of IoT technology. On the basis
of end-use industry, NB-IoT market is segmented as agriculture,
healthcare, automotive & logistics, manufacturing, energy and
utilities and retail. With shifting consumer interests in IoT
ecosystem, NB-IoT is likely to be adopted in various applications. In
terms of applications, NB-IoT market is further classified as smart
metering especially in gas, electricity and water meters, facility
management services, safety and security systems, connected personal
appliances especially the one used in healthcare industry, connected
industrial appliances and people and animal tracking. Companies which
are in the development of NB-IoT services, have shown some crucial
developments occurred in recent past. For instance, Huawei
Technologies Co. Ltd. released world’s first NB-IoT commercial chip
in Global MBB forum health at Hong Kong. Similarly in February 2016,
Nokia along with Intel Corporation and Vodafone group demonstrated
NB-IoT at Mobile World Congress held at Barcelona, Spain.
Significant
penetration of Internet among developed economies and rising
penetration of the same amongst nascent economies is the primary
growth driver of NB-IoT market. Alongside, escalating demand for low
power indoor connectivity among connected devices is further
uplifting the NB-IoT market. However, lack of awareness amongst large
pool of consumers is expected to restrain the growth of NB-IoT
market. This factor is expected to have a moderate impact on the
market growth throughout the forecast period. With IoT is still
increasing its footprint globally, NB-IoT holds strong market
oppournity to develop its footprint across the world.
Moreover, government
agencies promoting IoT with proposing new development policies and
developing digital infrastructure. NB-IoT is expected to get
appreciated among all the leading economies around the globe. Also,
rising worldwide events to promote IoT is expected to result in
widespread adoption of NB-IoT technology. For instance, in November
2016, Istanbul is expected to organize smart city expo world
congress. Similarly, with the initiative of Euroforum, Amsterdam will
hold smart city event in June 2016. Alongside this, in January 2016
government of India proposed development/urban makeover of its 100
cities under the smart city project. This evolving ecosystem of IoT
is expected to boost the market of NB-IoT is coming years.
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Some of the leading
companies in development of NB-IoT are Huawei Technologies Co., Ltd.,
Ericsson AB, Qualcomm Technologies, Inc., Deutsche Telekom AG,
Vodafone Group plc, Intel Corporation, and Nokia Solutions and
Network.
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